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Royal Society of Chemistry Financial Statements and Trustees' Report Royal Society of Chemistry Financial Statements and Trustees’ Report 2015 01 Contents We are the world’s Welcome from the President 1 leading chemistry Objectives and strategy 2 community and our mission is to advance Achievements and performance 3 excellence in the Plans for the future 14 chemical sciences. Benevolent Fund 15 Financial review 17 Structure, governance and management 21 Subsidiary companies 23 Reference and administrative details 24 Auditors, bankers and other professional advisers 24 Royal Society of Chemistry Council 25 Responsibilities of the Trustees 26 Independent auditors’ report 27 Consolidated statement of financial activities for year ended 31 December 2015 28 Consolidated balance sheet as at 31 December 2015 29 Royal Society of Chemistry balance sheet as at 31 December 2015 30 Consolidated and charity statement of cash flows for year ended 31 December 2015 31 Notes to the financial statements 32 Welcome from the President I’ve been a member of the Royal Society of Chemistry since Of course, science is international and to solve global I was an undergraduate at the University of Southampton. challenges we need to work together across borders. I’m immensely proud of our organisation and of being a It has been an honour to travel the world during my chemist. presidency, from the United States to Brazil and India, to strengthen links with other centres of chemistry. Last year The chemical and pharmaceutical industry alone is the UK’s we signed a partnership with the British Council, which will largest manufacturing exporter, with exports of nearly £50 help us bring UK chemists together with colleagues through billion each year*. a series of major international Newton Fund Researcher Chemists help make the medicines that save our lives, the Links workshops. fabrics for the clothes we wear, and the materials in our Finally, one of my priorities as President has been to smartphones. And without the chemical sciences, we won’t support innovation by bringing academia and industry be able to overcome the big challenges facing our world, closer together. So I am particularly pleased that from antimicrobial resistance to climate change. EnterprisePlus, our network to support small and medium- That’s why we work to advance excellence in our field. sized companies in the chemical sciences, reached 280 As my presidency draws to a close, I’m pleased to reflect on members last year. a year in which we did more to fulfil this mission than ever None of this would have been possible without our before. members. In 2015, our membership grew to over 54,000 In 2015, we became the biggest publisher of quality and our members continued to play a leading role in chemical sciences research in the world, sharing cutting our organisation, from chairing our leading scientific edge knowledge through nearly 44,000 journal articles. conferences, to serving on our publishing boards, to writing to their MPs in support of our campaigns. We nearly doubled our network of education coordinators, allowing us to inspire and support many more teachers and It has been a great honour to serve as President and to lead learners of chemistry around the country. the Royal Society of Chemistry into its 175th anniversary year. We continued to make our field more inclusive and diverse, delivering the first year of Chemistry for All, an innovative As I prepare to step down, I know that our community will project to understand how we can encourage children continue to go from strength to strength. Not just because from a broader range of backgrounds to study the subject I have every confidence in my successor, Sir John Holman, at university. but because of the dedication and expertise of our diverse and engaged staff and membership. We conducted the first ever study of public attitudes to chemistry in the UK, helping us understand how to better Indeed, I look forward to remaining an active member connect people in the wider community with the chemical myself, and to working together with our community to sciences. achieve even greater things in the future. And we successfully campaigned, with organisations across the sector, for the Government to ring-fence the science budget in the Comprehensive Spending Review, so that the UK can continue to be one of the best places in the world to do science. * According to the Chemical Industries Association’s “UK Chemical and Pharmaceutical Industry Facts and Figures”, 1 January 2015 1 Objectives and strategy Our mission Our Royal Charter objectives We are the world’s leading chemistry community and Our Royal Charter sets out our objectives very clearly: our mission is to advance excellence in the chemical • to foster and encourage the growth and application sciences, for the benefit of science and humanity. of the chemical sciences by the dissemination of This has been the case ever since 1841 when 77 chemical knowledge. academics, doctors, industrialists and entrepreneurs • to establish, uphold and advance the standards of created our earliest incarnation, the Chemical Society qualification, competence and conduct of those who of London, with dialysis inventor Thomas Graham as practise chemistry as a profession. President. • to serve the public interest by acting in an advisory, In 2016, as we celebrate our 175th anniversary year, our consultative or representative capacity in matters mission is just as relevant, but we pursue it on a scale our relating to the science and practice of chemistry. founders would find inconceivable. • to advance the aims and objectives of members of the We now have over 54,000 members in 125 countries, Royal Society of Chemistry so far as they relate to the an internationally-renowned knowledge business, and advancement of the science or practice of chemistry. a reputation as an influential champion for the chemical sciences. Our 2013 to 2017 strategy Our global community spans hundreds of thousands of We strive to deliver our charter objectives in the most scientists, librarians, teachers, students, pupils and people relevant and effective way possible, and to make efficient who love chemistry. use of our resources so that we are sustainable for the long-term and to ensure we bring public benefit in accordance with guidance from the Charity Commission. To that end, we periodically revise our strategy. We are currently delivering our 2013 to 2017 strategy. This strategy is designed to maximise our core strengths and to ensure we are well-equipped to adapt and grow, as we have done for over 175 years. It is focused on five strategic strengths and priorities, as set out in the table below. Our strength Our strategic objective Our long history as a publisher, which means we have a strong Make the best chemical science knowledge Knowledge reputation as a global provider of high-quality chemical knowledge. available to all those who need it. Our role as a professional body, which means we have a deep Secure a strong, diverse and sustainable Skills understanding of the needs and solutions for developing skills and supply of chemical scientists at all levels. upholding standards in the chemical sciences at all levels. Our role supporting chemistry both as a scientific discipline and a Bring together and empower the global Community profession, and our global membership, means we are uniquely placed chemistry community for the benefit of to bring together and represent the chemical sciences community. science and humanity. Engage and support members at all levels Our global network of expert and engaged members who support our to strengthen our mandate to act from our Member engagement organisation and our mission. community, better achieve our Charter objectives and increase our influence. Organisational Our commitment to long-term stewardship and long-term strategic Equip the organisation to grow sustainably strength planning, which has enabled us to adapt and grow for 175 years. and confidently. 2 Achievements and performance Knowledge Measuring success Our objective: Make the best chemical science Publish the largest share of quality* chemical knowledge available to all those who need it. sciences research • We published 43,773 scholarly journal articles, an over 20% increase on 2014, making us the world’s biggest Overview publisher of quality chemical sciences research last We know that scientific advances don’t happen in year. isolation. The more that scientists are able to share • For the first time, we published 100 new book titles in information and ideas, the more rapid our progress a year. will be. • Our articles were downloaded 37.5 million times, a That’s why we’re committed to making the best chemical 14% increase on 2014. science knowledge available to all those who need it. *Defined as articles published in journals with an impact factor In 2015, we published more and higher-impact chemical of above 3. sciences research than ever before, making us the world’s biggest publisher of quality chemical sciences research. We also continued to shape the future of Open Access in the chemical sciences, so that research can be published in a sustainable, rigorous and accessible way. And we helped researchers share knowledge through our portfolio of scientific conferences, workshops and meetings, focused on major global challenges. At a glance • Biggest publisher of quality chemical sciences research in the world. • 95% of authors, reviewers and readers say we value our customers. • 4 new journals and 100 new book titles launched. • 2.4 million visitors to the Chemistry World website. • Over 100 scientific conferences, symposia and workshops in 14 countries, across five continents. 3 Continue to increase the quality and quantity of Provide world-leading service in our publishing our journal portfolio operation • Our 2014* impact factors – a measure of the • In 2015, we held our first annual survey* of journal extent to which published research is cited by other authors, reviewers and readers.
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